President Trump on Tuesday backed off his proposed 20% toll for ships passing through the Strait of Hormuz in favor of investment deals that Persian Gulf states will ink with the US.
During a meeting with the prime minister of Iraq, President Trump discussed his decision to reverse his plan to implement tolls for non-Iranian ships passing through the Strait of Hormuz. NBC News' Gabe Gutierrez reports on the decision and other topics the president took questions about in the White House.
President Trump announced a 20 percent fee on cargo through the waterway, despite his own administration’s position that such fees violate international law.
President Trump announced on Tuesday that he would scrap his proposal yesterday for a 20 percent tolling fee on cargo transiting the Strait of Hormuz, and would instead pursue trade and investment deals with Gulf states. Trump made the pitch a day ago as part of efforts to unlock commercial shipping through the crucial waterway.…
President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz after the proposal was widely panned as impractical.
President Trump on Tuesday walked back his demand for collecting a 20% toll from ships that transit through the Strait of Hormuz — and instead said Gulf states would make major investments in the U.S.Why it matters: Trump's Hormuz fee announcement on Monday was deemed illegal by the UN maritime agency and shocked many U.S. allies in the Gulf. It also…
